Australia shares close up 0.2 pct

Australian shares closed 0.2 per cent higher on Monday after recovering metals prices cushioned early weakness,although major miners BHP Billiton and Rio Tinto still ended in negative territory.

The local market shrugged off China8217;s latest tightening move with major banks closing higher,while supermarket chain Woolworth8217;s rose after reaffirming its earnings guidance.

The benchmark Samp;P/ASX 200 index closed 9.8 points higher at 4,861.9,according to the latest available data. The index fell 0.7 per cent on Friday to a two week closing low.

New Zealand8217;s benchmark NZX50 index finished 12.5 points higher at 3465.2.